Ventures in the Peruvian market are very well regarded at present. To support this statement, we can use the latest data from the National Institute of Statistics and Information (INEI), which confirms the good news: Peru's Gross Domestic Product (GDP) grew by 2.99% in October 2017. This constant development of the Peruvian economy shows that entrepreneurs planning to invest in the country, both Peruvians and foreigners, have a great chance of success.
On this subject, Peru has various industries to consider and make the most of when establishing a business. Return on investment and profitability will be more successful if good decisions are made like choosing the right industry and business line. Furthermore, key factors such as the product and/or service to be promoted and the geographical location of the business will be decisive. Outlined below is a checklist of the most profitable areas for investing in Peru:
Website design: They say that a company without a website or support in social networks is doomed to disappear. This premise is taken very seriously by investors from different industries, who seek to have a presence on the Internet. Companies are interested in digital marketing and look for digital and e-commerce agencies.
Creating a website design company means having specialized personnel in Internet Positioning and SEO (Search Engine Optimization), i.e. in both organic and sponsored searches. In addition, it must have the ability to identify the brand and be clear about customer aims, offering quality developments and designs.
Restaurants and cafés: The renowned Peruvian cuisine could not be left off this list. Tourists from all over the world travel to taste its exquisite cuisine. In Peru, every well-managed restaurant is a profitable and prosperous business. Furthermore,
with the boom in Peruvian food, the culinary sector is growing by 10% each year.
When entering the food industry, it is vitally important to analyze the segment, i.e. potential consumers, so that we can offer the right price (money), place (location), promotion (offers) and product (food dishes). On the other hand, the investment will depend on the segment selected and factors such as the personnel to be hired and the logistics (which suppliers to work with) must be taken into account. Another point to consider when embarking on a gastronomic adventure is to make a great value proposition, i.e. offer potential diners an original experience.
Hotels, guesthouses and hostels: The high number of tourists coming to Peru means a high demand for hotels and guesthouses, with breakfast included, making this area an interesting business opportunity. Tourist attractions located in Peru are some of the most impressive in the world, and offering accommodation or shared room services (in the case of hostels) is a good option.
It is important to select the hotel category and the following options are available: Hotel (1-5 stars), Aparthotel (3-5 stars), Guesthouse (1-3 stars) and Backpackers Hostels or Hotels. For an accommodation service to start operating the owner must register their business in the Tax Registry (RUC) and they must also have the respective operating license.
Real estate projects: The civil construction industry in Peru is growing steadily. In this regard, small builders and companies buying and selling real estate or renting apartments have an interesting niche to exploit.
The first step in developing a real estate project is to identify the land, taking into account factors such as location and the socioeconomic level of the area. Before implementing the project and registering them separately in the departments, in public registries and the respective municipality, you must prepare the land and obtain certificates related to feasibility of services such as water and electricity. In addition, the project must be submitted to the municipality with details such as the urban development certificate, the location of the land and its architecture. Finally, a building permit must be obtained. In order to apply for it, it is necessary to submit the narrative, title deed, multiple official form, single building form, structural drawings and electrical and sanitary installation drawings.
Clothing exports: Thanks to various free trade agreements (FTAs), there is a great demand for Peruvian textiles. The quality of its raw materials (such as alpaca fiber) makes it sought after by famous designers from all over the world. Peruvians don’t hesitate to spend money when it comes to clothes in order to keep up with the latest trends, making it a major business opportunity.
In order to export Peruvian garments and/or textiles, it is necessary to be clear about the markets with most demand for them. Thanks to Peru's Free Trade Agreements (FTAs) with countries such as Chile and Colombia, clothes may be exempt from tariffs, representing a great opportunity. It should be noted that each garment to be exported must specify details such as the country of origin, the raw material and the size written in Spanish on the label.